Viasat (NASDAQ:VSAT) Sets New 52-Week Low at $11.76

Viasat, Inc. (NASDAQ:VSAT)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.76 and last traded at $11.83, with a volume of 195649 shares. The stock had previously closed at $11.94.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VSAT. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Viasat in a research report on Monday, June 17th. Bank of America decreased their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. StockNews.com lowered Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Morgan Stanley decreased their price target on Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Viasat has a consensus rating of “Hold” and an average target price of $22.33.

Viasat Stock Down 2.4 %

The firm has a market cap of $1.49 billion, a price-to-earnings ratio of -1.36 and a beta of 1.35. The business has a fifty day simple moving average of $16.42 and a 200 day simple moving average of $16.11. The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 2.78.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.16. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The firm’s revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.83) EPS. As a group, equities analysts forecast that Viasat, Inc. will post -1.34 EPS for the current fiscal year.

Insider Activity at Viasat

In other news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction on Monday, August 12th. The stock was sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the transaction, the insider now owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of Viasat

Hedge funds and other institutional investors have recently modified their holdings of the business. Treasurer of the State of North Carolina raised its position in Viasat by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 51,832 shares of the communications equipment provider’s stock valued at $1,449,000 after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System raised its holdings in shares of Viasat by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 37,800 shares of the communications equipment provider’s stock valued at $480,000 after buying an additional 600 shares during the period. Daiwa Securities Group Inc. lifted its stake in Viasat by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider’s stock worth $209,000 after acquiring an additional 667 shares in the last quarter. Entropy Technologies LP boosted its holdings in Viasat by 5.7% during the 1st quarter. Entropy Technologies LP now owns 13,137 shares of the communications equipment provider’s stock valued at $238,000 after acquiring an additional 707 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Viasat by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,044 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 997 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

Viasat Company Profile

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.